#technicalanalysis provides insights that #fundamentalanalysis cannot. We can use that to our #advantage in Ingersoll Rand (NYSE: IR). Using the data offered below we have a real-time example. Review The technical data for IR below, and the added value of technical analysis will become clearer. Trading plans are derived naturally from the technicals. This data is current, but it is not real time. If you want a real time update, or data on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Strong | Neutral | Strong |
P1 | 0 | 0 | 47.79 |
P2 | 50.93 | 51.36 | 50.76 |
P3 | 51.62 | 52.53 | 53.77 |
Long Term Trading Plans for IR
May 1, 2021, 3:15 pm ET
The Technical Summary and Trading Plans for IR help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this IR Report.
IR - (Long) Support Plan
The technical summary data tells us to buy IR near 47.79 with an upside target of 50.76. This data also tells us to set a stop loss @ 47.65 to protect against excessive loss in case the stock begins to move against the trade. 47.79 is the first level of support below 49.41 , and by rule, any test of support is a buy signal. In this case, support 47.79 would be being tested, so a buy signal would exist.
IR - (Short) Resistance Plan
The technical summary data is suggesting a short of IR as it gets near 50.76 with a downside target of 47.79. We should have a stop loss in place at 50.91though. 50.76 is the first level of resistance above 49.41, and by rule, any test of resistance is a short signal. In this case, if resistance 50.76 is being tested, so a short signal would exist.